NAHB Says Housing Picture Improving

The REI Bulletin reporting from the National Association of Home Builder’s (NAHB) International Building Show (IBS) indicates housing starts will see gradual improvements in 2011, establishing momentum for 2012. NAHB Economists told an audience at the show that job growth will provide a stronger stimulus to housing than last year’s tax credit.  NAHB Chief Economist David Crowe, forecasted 575,000 single-family home starts in 2011, a 21 percent climb over an estimated 475,000 units started in 2010, which in turn showed a seven percent gain from the 442,000 homes started in 2009. The report also indicates multifamily housing is poised to profit from a disproportionate number of Generation Y’ers moving into the housing market. Still, small builders in particular continue to experience difficulty obtaining financing, a dilemma the organization is making a top priority to rectify.
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